Detailed financial statements for NIQ Global Intelligence Plc (NIQ): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year with up to 20 years of history.
NIQ Global Intelligence Plc operates as a consumer insights company, deploying an advanced AI-driven platform to meticulously analyze vast shopping data. Its services yield crucial understandings of worldwide consumer behavior, empowering brands, retailers, and various other clients to make well-informed strategic and operational decisions.
Analysis Summary
Trailing-twelve-month margins: gross margin 51.9%, operating margin 4.8%, net margin -8.0%.
At the current price of $17.83, NIQ has negative trailing earnings (P/E not meaningful) and an ROE of -47.17%. Market capitalisation stands at $5.3B.
Balance sheet quality for NIQ: current ratio of 1.0, net debt of $3.36B. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.
Income Statement (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue | $3.00B | $3.67B | $4.11B | $4.20B |
| Cost of Revenue | $1.49B | $1.66B | $1.83B | $1.86B |
| Gross Profit | $1.51B | $2.01B | $2.28B | $2.34B |
| Research & Development | 0 | 0 | 0 | 0 |
| Selling, General & Admin | $1.29B | $1.59B | $1.66B | $1.60B |
| Operating Expenses | $1.70B | $2.13B | $2.38B | $2.19B |
| Operating Income | -$191.3M | -$119.5M | -$103.3M | $141.8M |
| EBITDA | $166.7M | $265.4M | $328.0M | $752.1M |
| Interest Expense | $119.0M | $329.4M | $425.2M | $329.4M |
| Pre-tax Income | -$276.6M | -$570.9M | -$715.0M | -$209.8M |
| Income Tax | $43.4M | $57.0M | $117.7M | $135.5M |
| Net Income | -$320.6M | -$632.0M | -$839.3M | -$353.3M |
| EPS | $-1.30 | $-2.58 | $-3.43 | $-1.32 |
| EPS (Diluted) | $-1.30 | $-2.58 | $-3.43 | $-1.32 |
| Shares Outstanding (Diluted) | $245.0M | $245.0M | $245.0M | $266.9M |
Income Statement (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Revenue | $1.05B | $1.14B | $1.07B | $1.12B |
| Gross Profit | $585.7M | $623.9M | $444.0M | $624.2M |
| Operating Income | -$31.8M | $116.8M | $61.9M | $65.3M |
| EBITDA | $85.2M | $251.8M | $149.1M | $219.0M |
| Net Income | -$198.6M | -$32.2M | -$90.1M | -$30.5M |
| EPS | $-0.70 | $-0.11 | $-0.31 | $-0.10 |
| EPS (Diluted) | $-0.70 | $-0.11 | $-0.31 | $-0.10 |
Balance Sheet (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| Cash & Equivalents | $155.7M | $310.6M | $273.2M | $518.8M |
| Short-term Investments | 0 | 0 | 0 | 0 |
| Receivables | $581.6M | $823.6M | $754.0M | $799.9M |
| Inventory | 0 | 0 | 0 | 0 |
| Total Current Assets | $868.1M | $1.70B | $1.23B | $1.45B |
| Property, Plant & Equipment | $380.0M | $533.1M | $401.4M | $411.9M |
| Goodwill | $793.5M | $2.60B | $2.29B | $2.43B |
| Intangible Assets | $1.87B | $2.98B | $2.37B | $2.19B |
| Total Assets | $4.16B | $8.12B | $6.60B | $6.80B |
| Accounts Payable | $167.6M | $224.4M | $224.8M | $224.4M |
| Short-term Debt | $64.6M | $113.6M | $125.3M | $107.5M |
| Total Current Liabilities | $1.05B | $1.54B | $1.41B | $1.40B |
| Long-term Debt | $2.19B | $4.43B | $4.10B | $3.50B |
| Total Liabilities | $3.58B | $6.65B | $6.09B | $5.58B |
| Retained Earnings | -$523.7M | -$1.06B | -$1.74B | -$2.20B |
| Total Equity | $582.0M | $1.19B | $256.8M | $988.4M |
| Total Debt | $2.48B | $4.88B | $4.48B | $3.87B |
| Net Debt | $2.33B | $4.57B | $4.21B | $3.36B |
| Working Capital | -$182.8M | $160.8M | -$180.7M | $47.0M |
Balance Sheet (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Cash & Equivalents | $259.5M | $518.8M | $362.3M | $416.6M |
| Total Assets | $6.83B | $6.80B | $6.75B | $6.76B |
| Total Liabilities | $6.42B | $5.58B | $5.59B | $5.61B |
| Total Equity | $168.5M | $988.4M | $915.9M | $907.0M |
| Total Debt | $4.79B | $3.87B | $3.82B | $3.80B |
Cash Flow (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| Net Income | -$340.6M | -$577.4M | -$810.5M | -$353.3M |
| Depreciation & Amortization | $324.3M | $503.0M | $596.7M | $632.5M |
| Stock-based Compensation | $4.7M | $4.3M | 0 | 0 |
| Change in Working Capital | $79.2M | $26.8M | $28.5M | -$98.3M |
| Operating Cash Flow | $66.1M | -$11.8M | $73.9M | $298.7M |
| Capital Expenditure | -$329.2M | -$24.2M | -$298.7M | -$274.8M |
| Acquisitions | -$110.0M | -$1.43B | $335.8M | $41.0M |
| Stock Repurchased | 0 | 0 | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Free Cash Flow | -$263.0M | -$36.0M | -$224.8M | $23.9M |
Cash Flow (Quarterly)
| Year | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Operating Cash Flow | $283.5M | $193.0M | -$63.6M | $140.1M |
| Capital Expenditure | -$51.0M | -$98.9M | -$3.2M | -$4.9M |
| Free Cash Flow | $232.6M | $94.1M | -$66.8M | $135.2M |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Stock-based Compensation | 0 | 0 | 0 | $8.7M |
Growth & Margins (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| Revenue Growth (YoY) | | +22.4% | +11.9% | +2.1% |
| Net Income Growth (YoY) | | -97.2% | -32.8% | +57.9% |
| EPS Growth (YoY) | | -98.5% | -32.9% | +61.5% |
| Shares Change (YoY) | | +0.0% | +0.0% | +8.9% |
| FCF Growth (YoY) | | +86.3% | -524.4% | +110.6% |
| Gross Margin | 50.2% | 54.8% | 55.4% | 55.6% |
| Operating Margin | -6.4% | -3.3% | -2.5% | 3.4% |
| EBITDA Margin | 5.6% | 7.2% | 8.0% | 17.9% |
| Net Margin | -10.7% | -17.2% | -20.4% | -8.4% |
| FCF Margin | -8.8% | -1.0% | -5.5% | 0.6% |
| Effective Tax Rate | -15.7% | -10.0% | -16.5% | -64.6% |
Per-Share Data (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF Per Share | $-1.07 | $-0.15 | $-0.92 | $0.09 |
| Dividends Per Share | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares Outstanding (Basic) | $245.0M | $245.0M | $245.0M | $266.9M |
What to look at in Technology companies
- Revenue growth 3y (>=15%/year) — Validates sustained traction, not a one-off.
- Gross margin (Sub-sector dependent) — SaaS >=70%, Internet >=55%, Semis >=45%, Hardware >=35%.
- FCF / Revenue (>=20%) — Real cash generated. Many tech firms dress up non-GAAP earnings.
- ROIC (>=15%) — Capital reinvested efficiency — Buffett's first metric.
- SBC / Revenue (<10% healthy) — Stock-based compensation. Silent dilution: >20% destroys value.
- Net Debt / EBITDA (<=2x (1.5x SaaS)) — Resilience in downturns and rate hikes.
Profitability
| Return on Equity | -47.17% |
| Return on Invested Capital | 3.92% |
| Return on Assets | -5.20% |
| Gross Margin | 51.90% |
| Operating Margin | 4.84% |
| Net Margin | -8.01% |
Financial Health
| Debt / Equity | 4.19 |
| Current Ratio | 1.09 |
Key Ratios (10y)
| Year | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -14.62 | -7.37 | -5.54 | -12.49 |
| P/B | 8.00 | 3.91 | 18.14 | 4.45 |
| P/S | 1.55 | 1.27 | 1.13 | 1.05 |
| Gross Margin | 50.2% | 54.8% | 55.4% | 55.6% |
| Operating Margin | -6.4% | -3.3% | -2.5% | 3.4% |
| Net Margin | -10.7% | -17.2% | -20.4% | -8.4% |